Supervision Appeals Review Committee Decision Regarding the Appeal of a Fair Lending Violation – Footnotes
September 20, 2004
Audit Report No. 04-036
Footnote 1: During the period covered by our review, the SARC consisted of the FDIC's Vice Chairman; Ombudsman; General Counsel; the Director, Division of Supervision and Consumer Protection; and the Director, Division of Insurance and Research (or their designees). As described on pages 3 and 4, the SARC was established by the FDIC to independently review material supervisory determinations (such as examination ratings) made for insured depository institutions that the Corporation supervises.
Footnote 2: DSC currently maintains six regional offices located in New York, Atlanta, Chicago, Kansas City, Dallas, and San Francisco. In addition, DSC operates two area offices in Boston and Memphis. The specific regional office responsible for examining and supervising the Bank has been omitted to protect the Bank's identity.
Footnote 3: Only four of the five SARC members voted. The Deputy Director for Compliance and Consumer Protection, representing the DSC Director, recused herself from voting.
Footnote 4: In its new form, the SARC will consist of one of the three FDIC internal Directors, along with special assistants or deputies of the other two internal Directors. The FDIC's General Counsel would serve as a nonvoting member.
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